Yokohama Tire Philippines, Inc. (YTPI) held a groundbreaking for its P3.5-billion expansion facility inside the Clark Freeport Zone on July 29, 2024.

The expansion, which is set for completion in 2025, is expected to boost production to cater to the growing market demand.

YTPI President Atsushi Funayama said that the expansion, which marks an additional investment for the company, is set to generate employment in the province, targeting 4,000 employees by 2026.

To date, Yokohama’s annual production is pegged at 2.8 million tires.

Present at the groundbreaking rites are Department of Trade and Industry Secretary Alfredo Pascual, Mabalacat City Mayor Cris Garbo, Angeles City Mayor Carmelo “Pogi” Lazatin, Jr., Clark Development Corporation president and CEO Atty. Agnes Devanadera, CDC Chairman Atty. Edgardo Pamintuan, and CCT Constructors Corp. Chairman Hiroki Nakazawa.

Meanwhile, YTPI Executive Vice President- Plant Operations Division Masahiro Hirano led the ceremonial toast.